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Skillsoft to acquire SumTotal Systems
Posted on Friday, 22 August 2014 14:30
Online learning group Skillsoft will purchase SumTotal Systems, a Florida-based human resources (HR) consultant group, from buyout firm Vista Equity Partners.
Deutsche Bank will advise the Irish company during the transaction while the investment group has hired Evercore.
SumTotal, along with industry experts and analysts, claim it is the largest independent provider of integrated HR products.
The company has over 45.00 million users, 17.00 million in the cloud and more than 3,500 customers worldwide.
SumTotal dates back over 30 years and has a presence in countries including the US, the UK, France, China and Australia, among others.
Vista bought SumTotal in 2009 for USD 160.00 million via a public takeover.
Since the acquisition the HR group has acquired Softscape, GeoLearning, CyberShift and Accero.
SumTotal made all of its purchases between 2010 and 2011 for undisclosed amounts.
Skillsoft was established through a merger between Skillsoft Corporation and SmartForce in 2002.
It claims to be an expert in the learning field and offers books, videos, simulations and management systems to help improve business skills.
Skillsoft offers its assistance to global enterprises, government and education customers and small to mid-sized companies.
The Dublin-based group serves over 6,000 customers and more than 19.00 million learners worldwide.
It has a presence in the UK, US, India and Singapore, among other locations.
Private equity firm Charterhouse Capital Partners acquired Skillsoft from Berkshire Partners, Advent International and Bain Capital in April for USD 2.30 billion.
Vista claims to be a leading private equity firm focused on the software and technology industries.
The investor has around USD 13.00 billion in cumulative capital commitments and its latest acquisition was AGDATA, an online agricultural and animal health sector software provider, for an undisclosed amount in July.
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